News & Views
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Farming Focus - March 2010
Unlike the price of wheat there is only one way that taxes will go in the foreseeable future… up… unfortunately. So it is more important than ever to maximise any tax reliefs available.
In this Farming Focus, we cover several areas where there may be scope for tax relief and a VAT area that HMRC appear to be looking into. This is intended to be just a seasonal ‘memory jogger’ with minimal technical information and jargon.
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Bulletin - February 2010
The latest edition of Mercer & Hole’s Bulletin is available for viewing. Click here to download a copy.
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Pre-Budget Report 2009 - blog review
The Chancellor delivered his Pre-Budget Report 2009 on Wednesday 9 December 2009. Our Partners and Managers posted a number of blogs in relation to the 2009 Pre-Budget announcement – on both SME Plus blog and Tax Plus blog.
Please find below a list of the respective blogs posted:
Tax Plus
Pre-Budget Report 2009 – key points for private clients
Pre-Budget Report 2009 – furnished holiday lets
Pre-Budget Report 2009 – national insurance contributions
Pre-Budget Report 2009 – bank payroll tax
SME Plus
Pre-Budget Report 2009 – company cars and fuel
Pre-Budget Report 2009 – Research & Development (R&D)
Pre-Budget Report 2009 – yet more changes to the pension regime!
Pre-Budget Report 2009 – International aspects
Pre-Budget Report 2009 – key business issues
Pre-Budget Report 2009 – national insurance contributions
Pre-Budget Report 2009 – time to pay
To receive our blogs direct to your inbox visit http://www.mercerhole.co.uk/news, click on the blog of your interest and follow a few simple subscription directions.
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Nightingale Racing – Snetterton, 14 November 2009
Following on from their success earlier this year at Brands Hatch, Nightingale Racing brought its 2009 Fun Cup campaign to a successful close gaining its second trophy of the season.
Still in its first year of racing, the final round of the series held at Snetterton saw the team gain another podium finish by securing third in class.
Michael Lockyer, Managing Partner of Nightingale Associates commented, “To have secured a podium earlier in the year at Brands Hatch was special, but to have been on the podium a second time in our inaugural season of racing was a superb achievement.”
The Snetterton event was a double header consisting of a forty five minute, three driver, sprint race and later in the day, a six hour endurance event. The longer race included three hours of racing in the dark.
Nightingale Racing achieved their podium success in the sprint race and still turned in a credible fifth in class during the six hour event. Michael was ably supported in the three driver team by Peter Flynn and Stuart Ramsay who both have considerable racing experience under their belts.
Michael added, “I’ve raced all season without actually starting any of the races and taking the first driving stint I didn’t want to let the team down. The team let me start both races and I can assure you it’s a much more heart stopping experience waiting for the lights to go green and charging into the first corner with twenty five other cars, than it is getting into the car once the race is under way.”
Despite the difficult driving conditions the team suffered no major mishaps and the car ran reliably during both races.
Michael commented further, “Driving conditions throughout the weekend were appalling. Gale force winds and at times, torrential rain meant that driving on the road was a hazard, let alone racing on a track and in the dark. There was some car-to-car contact on occasions, but thankfully nothing that hindered our progress.”
Nightingale Racing can look back on its first season with some pride. Michael’s final comment of the season, “It’s been fun for us as drivers this year but hopefully it’s been fun for those guests and friends that also attended the races.”
Fun Cup Racing Series (http://www.funcup.co.uk)
Snetterton circuit
Mercer & Hole Chartered Accountants (http://www.mercerhole.co.uk)
Nightingale Associates 0845 8281000 (http://www.mercerhole.co.uk/services/overview/C54)
Universal Vehicle Services 02392 595349 -
Mercer & Hole blog round up
Below are some blog topics that our experts have been posting over the past few week, feel free to visit our blogs posts and leave your comments.
SME Plus
VAT changes in 2010
The start of 2010 is set to be a busy time for VAT registered businesses, particularly those involved in cross border supplies of goods and services.
Read more…The 50% rate is now less than 6 months away
The 50% rate is now less than 6 months away and the need for planning is becoming more urgent. Some points to consider may include.
Read more…A good time to buy commerical property
There is every indication that there is a market turnaround for Commercial property – lower rates of tenant rent delinquencies or defaults show values for offices and retail space stabilising.
Read more…Insolvency blog
Directors’ personal liability for tax breaches
Under s212 of the Insolvency Act 1986, Liquidators have the power to pursue compensation from directors who breach their fiduciary duties to the Company.
Read more…To receive our blogs direct to your inbox visit http://www.mercerhole.co.uk/news, click on the blog of your interest and follow a few simple subscription directions.
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Bulletin - October 2009
Mercer & Hole’s latest Bulletin is now available to view, please click here to download your electronic version.
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Mercer & Hole blog round up
Mercer & Hole’s Tax Plus Blog, SME Plus Blog and Insolvency Blog feature regularly updated information, comment and ideas from Mercer & Hole’s experts. Below are some blog topics that our experts have been posting over the past few week, feel free to visit our blogs posts and leave your comments.
Tax Plus
Mansworth v Jelley – a change of heart – once upon a time a long time ago , well 2003, anyway, there was a rather odd tax case on share options which led to the situation in which, on the exercise of share options, subject to income tax, followed by a sale of those shares, there was an effective double counting of the base cost…read more
Mercer & Hole partner Helen McKie recognised as one of the ‘Top 35 Under 35’ advisers – congratulations go to Helen McKie on being recognised as one of the Top 35 Under 35 advisers in Private Client Practitioner’s listings…read more
SME Plus
Minimum pension age due to change on 6 April 2010 – the minimum pension age is due to change on 6 April 2010. The change means the earliest you’ll be able to take your pension benefits will increase from age 50 to age 55..read more
Advance warning on late payment penalties for PAYE – HMRC has issued an update on the new rules that will apply to late PAYE payments with effect form May of next year…read more
Is now the time to fix your rate? – as of today, interest rates on various tracker mortgages from Woolwich have been reduced by 0.50% – for example, a lifetime tracker to +2.29% above the Bank of England base rate…read more
Insolvency Blog
INSOL Europe – Deputy President – Chris Laughton, a restructuring and insolvency partner at Mercer & Hole in London, has succeeded to the deputy presidency of INSOL Europe…read more
Employment Rights Act – increase in maximum amount of a week’s pay from 1 October 2009 – with effect from 1 October 2009, the maximum amount of a week’s pay for the purposes of calculating payments under the insolvency (and other) provisions of the Employment Rights Act 1996 is increased from £350 to £380…read more
To receive our blogs direct to your inbox visit http://www.mercerhole.co.uk/news, click on the blog of your interest and follow a few simple subscription directions.
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Liz Cuthbertson appointed partner with Mercer & Hole
Mercer & Hole chartered accountants are delighted to announce the appointment of Liz Cuthbertson as a partner with the firm.
A private client tax expert, with a particular interest in advising on non domiciliary issues, Liz is also a qualified chartered accountant. At Mercer & Hole she advises a portfolio of high net worth clients on matters of wealth preservation, offshore tax planning, and inheritance tax and estate matters. Liz joined Mercer & Hole in a senior manager role in 2006.
Liz aims to grow her portfolio with Mercer & Hole across all these areas and develop her specialism of non domiciled tax matters.
Liz started her accountancy career with KPMG in Hamburg, after leaving university with a degree in German and Italian. For three years she worked as an auditor on a number of large quoted businesses, often German subsidiaries of UK companies and worked to German accounting standards, as well as UK GAAP.
It was her return to the UK in 1997, to join Coopers & Lybrand, that saw Liz’s transfer into the private client arena.
Liz’s experience was broadened further during a two year stint with Doughty Hanson & Co, a private equity firm, where she advised on tax implications of the co-investment scheme and the remuneration for key executives, many of whom were non UK domiciled.
Returning to practice in 2001, with Rawlinson & Hunter, Liz advised a portfolio of high net worth individuals on a range of advisory matters and continued to work with both UK and non UK domiciled clients.
Liz qualified as a member of The Institute of Chartered Accountants of Scotland in 1997 and became a member of the Chartered Institution of Taxation in 2000.
Liz’s appointment as a partner sees the number of female partners at Mercer & Hole chartered accountants increase to six, a notable 30 percent of its twenty-strong partner group
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Mercer & Hole partner Helen McKie recognised as one of the ‘Top 35 Under 35’ advisers
Congratulations go to Helen McKie on being recognised as one of the Top 35 Under 35 advisers in Private Client Practitioner’s listings. We are delighted that Helen who joined Mercer & Hole on our graduate trainee programme in 2003 and became a partner in 2008 has been recognised for her achievements.
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Mercer & Hole celebrate 20 years in Milton Keynes
Mercer & Hole are delighted to announce their twentieth anniversary. The chartered accountants celebrate this milestone one year on from moving into larger offices in Silbury Court.
On 16 August 1989 the Mayor of Milton Keynes opened Mercer & Hole’s first offices in Milton Keynes, within Ashton House in Silbury Boulevard. Existing Mercer & Hole partners Howard Wilkinson, Mike Joy and Paul Maberly were among the first intrepid half dozen who opened the office.
Mercer & Hole opened its Milton Keynes office when the economy was booming, only to witness a ‘bust’ in the early 1990s. The Milton Keynes team worked extremely hard to make a name for itself; this included Howard Wilkinson and his ‘team’ taking to the ice dressed in MK Kings uniform and skating with guests during one of the firm’s early office Christmas parties!
On the landmark, Howard Wilkinson comments,
“Twenty years after first coming to Milton Keynes and on our first birthday in our new offices, is an ideal time for Mercer & Hole to reflect on our growth and successes in Milton Keynes. We started from scratch here and worked unbelievably long hours, but it was great fun. Over the years we have built a strong reputation, particularly with fellow professionals in the Milton Keynes business community. For me, Milton Keynes has a buzz all of its own and despite current conditions, remains a vibrant place to work twenty years on.”
